Global Detergent Market 2019-2023
Detergent is a water soluble chemical substance, which is available either in liquid or powder form, used for cleaning impurities and dirt. It is composed of salts of fatty acids.
Technavio’s analysts forecast the global detergent market to grow at a CAGR of 4.51% during the period 2019-2023.
Covered in this report
The report covers the present scenario and the growth prospects of the global detergent market for 2019-2023. To calculate the market size, the report considers the revenue generated from the use of detergent in different end- user
The market is divided into the following segments based on geography:
Technavio Announces the Publication of its Research Report – Global Detergent Market 2019-2023
Technavio recognizes the following companies as the key players in the global detergent market: Church & Dwight, Henkel, Kao Corporation, Procter & Gamble, Reckitt Benckiser Group, Unilever.
Commenting on the report, an analyst from Technavio’s team said: “The latest trend gaining momentum in the market is the increasing acceptance of liquid detergents. The concept of liquid detergent was introduced after powder detergents and bar/ soaps, but the adoption of liquid detergent has gained significant market share over the latter.
According to the report, one of the major drivers for this market is the growth in surfactants market. Surfactants helps in reducing the surface tension of water, and thereby increase the wetting and spreading dynamics of water.
Further, the report states that one of the major factors hindering the growth of this market is the high price wars. The price of liquid detergents is higher than other substitute products such as powder and bar detergents owning to the formers high manufacturing cost. The extra costs are added to the product pricing and passed on to consumers through recommend retail prices. This will hinder the market penetration specially in developing regions.
Church & Dwight
Procter & Gamble
Reckitt Benckiser Group
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